In 2009, Daniel Gleich and Mervyn Klein partnered to create Broad Financial, an IRA LLC Facilitation firm. The company was conceptualized after Daniel underwent the arduous process of creating an IRA LLC on his own, to diversify his father’s retirement portfolio. He sought to share his hard-earned experience with others by providing them with a streamlined Self Directed IRA solution. Within several years, Broad Financial helped 10,000+ clients achieve financial freedom by diversifying their retirement accounts into privately held investments. They were largely successful due to the attentive and personalized service delivered to their clients. As Broad Financial grew, they brought Brian Finkelstein, an industry veteran with 25 years of global market experience, on board.
Surveying the Self Directed IRA landscape, Broad Financial’s partners realized the need for an IRA custodian that matched the superior level of service their clients had come to expect. Problems with existing providers included lengthy processing time frames, sub-par customer service and portfolio-based pricing. Clients complained that it simply took too long for their IRA custodian to address their needs. When contacting their IRA custodian, it was hard to reach a live person, and when they did, they didn’t always receive clear answers to their questions.
In 2012 Daniel, Mervyn and Brian began the process of establishing a South Dakota Trust Company, and in January 2014 they received their Trust charter from South Dakota.
They adopted a policy of unstinting customer service dedicated to providing knowledgeable, reliable, responsive, and courteous support. To implement this policy the partners offered team members to be CISP trained, which is the highest training an IRA Specialist can receive. Customers who were accustomed to long call queues to talk to a professional were consistently amazed at the quick response time and professional service. The partners realized that their efforts were worthwhile when they received reviews from clients like, “Every time I have called I have found them to be very knowledgeable and able to answer all of my questions. The people have been very courteous and extremely helpful.”
The partners also created a pricing structure that was sensible and clear cut. Accountholders were charged a low flat rate fee regardless of the size of their IRA. Whether a client’s account was worth $50,000 or $500,000 their quarterly fee remained the same.
Five years later, with thousands of clients across all 50 states and 1.5B+ billion dollars under custody, they are confident that their well-priced and service-based model is the right one. They are proud to have stayed true to their vision of delivering uncompromising customer service and a hassle-free experience to individuals and funds alike.